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A large company decided to borrow money for its expansion project by issuing 14-year corporate bonds with an 8.50% coupon rate, yielding 5.80%, and making

A large company decided to borrow money for its expansion project by issuing 14-year corporate bonds with an 8.50% coupon rate, yielding 5.80%, and making annual payments. Based on these characteristics, these bonds are known as premium bonds. The current yield on these bonds equals?

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